On : Jun 27, 2017
In the major running global marketplace, suppliers, business, and customers are creating and maintaining the substantial amounts of information. According to author Gartner predicts the enterprise data in all the forms will grow % over in the next five years. According to International Data Corporation (IDC), the volume of the world will double every 18 months. This major volume of data will often be referred as “Information overload”, BIG DATA”.
“In August 2010, Avanade commissioned a survey of 543 c- level executives and IT decision -makers in 17 countries.”
Big data has made the biggest impact on all the companies not depending upon what scale they are in creating bona fide business challenges. This has become an important buzz world today. Big data has made its impact on all the traditional business.
In 1990’s Capital One credit card company. The company used a statistical pricing for every customer except capital one. This was one of their milestone in creating the biggest revenue for the company by the end of 20th century. This has been on the many banks in the world to use the same process.
“According to author Peter Pham (http://www.forbes.com/sites/peterpham/). Their annual net revenue has increased by 17% compared with top banks in the US such as Citigroup C -0.64%(http://www.forbes.com/companies/citigroup/) at 11%, Bank of America BAC -1.07%(http://www.forbes.com/companies/bank-of-america/) at 11% and JP Morgan at 6% from 2009 to 2014”.
Rolls Royce’s started using big data this has made and biggest impact in the company’s revenue. This was mainly influenced in the aircraft manufacturing sector. This was transformed from selling aircraft engines to selling aircraft engine packages and charging the customers based on the usage and repairs. This has made the Rolls Royce’s to increase 70% of the net revenue.